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votes for president obama, five for governor romney. back in 2008, president obama defeated john mccain 16-5. let's take a look at the map. 270 electoral votes are needed to win. nbc news now shows president obama with 237 likely. romney 206. and 95 in the toss-up column, so it is going to be a very long evening, andrew. >> i think we'll be staying up pretty late and then we'll be back at it tomorrow morning. but cnbc's team of reporters has the country covered this morning. stationed in battleground states, campaign headquarters and here at election central. among our guests this morning, house majority leader eric cantor, and then private equity pioneer and obama supporter alan patricof, outspoken republican ken langone, don peebls, and one of bush's right hand many, larry lindsey will be joining us. and then later today, a very special afternoon edition of "squawk box," we'll pick up election day coverage again at 5:00 p.m. so if you're sticking with us now, stick with us all day and the cnbc team will continue throughout the evening. of course you can take part in all of this by
is to watch the dollar generally seen romney is better for the dollar. obama victory would mean a weaker dollar. so we see the dollar showing strength. whether that means markets are reading in to it or not, i don't necessarily want to think we can go that far, but we are seeing under 1.28 for the euro-dollar, 1.2796. shedding 0.1%. and this along with the other dallas crosses will be one to watch in the next about 48 hours and hopefully not too much longer than that. >> we are hoping we know in 48 hours exactly who the president is. cross our fingers on that. when we come back, as the northeast begins to recover from super storm sandy, the hardest hit regions are bracing for a possible nor'easter. this is the next phase. plus the final dash to election day. john harwood joins us with the latest poll findings. the new electoral map when "squawk box" returns. >>> let's take a quick look at us equity futures. just 24 hours before the big election. dow off 22, nasdaq, as well. bowieing and kuwaiti leasing company finalizing an order for max 8s, valued at $2 billion current list prices. the
>>> good morning. decision 2012. president obama re-elected to a second term. republicans retain control of the house. while the democrats keep power in the senate. >> tonight, in this election, you, the american people, reminded us that while our road has been hard, while our journey has been long, we have picked ourselves up. we have fought our way back, and we know in our hearts that for the united states of america, the best is yet to come. >> we have left everything on our field. we have given our all to this campaign. i so wish that i had been able to fulfill your hopes to lead the country in a different direction. but the nation chose another leader. and so ann and i join with you to earnestly pray for him and for this great nation. >> investors say they've been waiting for this answer for months, after uncertainty that's been hanging over the markets. but what will the status quo in washington mean for stocks, bonds, currencies, and commod y commodities, and qe-3. but there's still the issues of that fiscal cliff. this morning, we're calling on leaders to solve this, to
. >> but if you believe that they anticipated an obama win, it shouldn't be a big shocker. >> the greeks did vote for what was necessary p. and we've had other things that seem more troubling hatching in europe over the past year that did not cost 300 points. so i don't know about the -- our friend ben white, wrote one thing about, wow, that's quite a reception for president obama. he couldn't let that tweet there for less than a minute before he said, i'm only kidding. it's not the president. >> he probably got completely piled on. >> he was like, no, i didn't really mean it it's europe, i know that. we all love president obama. anyway, time for the global market report. kelly evans is standing by in london. i'm not blaming you. you're in a little vacuum over there. it's the fiscal cliff over here. all those economies put together don't matter. >> no, joe, it's actually the fiscal of cliff over here, too. you'd be amazed how many times it's the first thing on everyone's lips. yesterday was one of the first times i've heard people both here and once the u.s. trading session got under way asking w
begins today. president obama will be making a statement on the economy. he'll speak from the east room of the white house at 1:05 eastern time. you can of course catch all of it right here on cnbc. john boehner is also scheduled to hold a you news conference today, as well. st. louis fed president james bullard is saying the u.s. economy is strengthening. but he's cautioning that leaders must tackle the looming fiscal cliff. a conversation we can't get away from. speaking in missouri yesterday, bullard also says he doubts the central bank will extend a bond maturity extension program that expires at the end of the year. bullard is not currently a voting member, but he will ebb in 2013. and china's national congress continues with new leaders for the communist party set to be named later this morning. today a rising star said the party is moving towards requiring officials to their their assets. so an interesting piece in the chinese business press this morning. >> we have been talking about the fiscal cliff and -- >> we have? >> and yesterday somebody tweeted a new drinking game. every
president obama's proposal which includes a $1.6 trillion tax increase, a $50 billion economic stimulus package and new power to increase the debt ceiling without congressional approval. the offer featured higher tax rates for households making over $250,000 a year. a one year postponement of the sequester and about $400 billion in savings over ten years for medicare and other entitlement programs. >> despite the claims that the president supports a -- >> thousand is the time fnow is republicans to move past the happy talk about revenues, ill defined, of course, and put specifics on the table. the president has made his proposal. we need a proposal from them. >> today president obama is taking his pitch on the road. he will be visiting the philadelphia suburbs employing campaign style tactics in hopes of mobilizing the public to his side. he'll be speaking at a manufacturing facility arguing that businesses it depend on middle class consumers over the holiday season. despite all this, you see the futures today indicating higher. dow up by about 35. does that surprise you guys? >> no, i
people. >> did you see this, obama is flexible on highest tax rates. >> administration official. white house officials later signaled that. he didn't signal it in anything he said. >> i spoke to a couple who were at the meeting yesterday, some of the executives, who felt, and this is like the implied feeling that he was now more willing to deal on the highest rate. >> did you hear anything about spending cuts or entitlement reform? >> two conversations are taking place. one if the public trying to get them behind you. the other is whether you're actually saying to the people you're negotiating with. and when you saw the signal, it was like, okay, maybe they'll get to that, i don't know, 37% or 500,000 or something. what we had been talking about two weeks ago. maybe that's where they're headed. stocks did gain ground on optimism around the idea that we could reach some sort of a deal to overt the fiscal cliff. the dow closing more than 100 points higher after being down by more than that during the session. a swing like that hasn't happened since october 2011. u.s. equity futures at th
to unleash. so i think the market psychologically with like to see a romney win, but even if it's obama, we can still make a plan. and that's the biggest problem. >> what happens if we don't find out the outcome of the election by wednesday morning? >> that's the talk of the town right now. downstairs everybody's talking that is the biggest disaster because if he with have that uncertainty continue -- i don't think it would go as lon at figure cal cliphysical kal clif that's the irs volumes have been low because we ecause there is no etting plan going forward. >> scott, we'll leave it there, but thanking for your perspective. we'll see you soon. the question on our minds here this morning, to run or not to run. that is our question. the big controversy over mayor bloomberg's decision to push forward with the marathon. one topic of outrage to touch on in chairs this morning. smart comes with 8 airbags, 3 a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. but don't just listen to me. listen to these
on the fronts? jackie deangelis has some of the stats with us. >> that's right, joe. president obama met with new jersey governor chris christie yesterday. the president touring some of the worst hard hit areas of the jersey shore saying 2,000 fema personnel are on the gloupd rou affected states. at least 74 people have died in the u.s. as a result of sandy. most of them from new york and new jersey. still 5.6 million customers in the dark. and it may be ten days before the hardest hit areas sea power restored. more than 19,000 flights were canceled because of sandy, but stranded passengers have something to be thankful for. newark and jfk airports were back in business yesterday and delta and american airlines are scheduled to resume a limited number of flights out of laguardia in about 30 minutes. the mta is also getting back to business with new york city subways offering limited service starting today. the m tcta is waiving all fees until tomorrow. so good news there. >> we're looking for any good news so thank you. the eye of hurricane sandy has hit the jersey shore hard. it wiped a
on the wealthy. and they were laughing. they said obama's going to do both. he's going to ask for both. he's going to want all of it. if it's 1.6 -- >> 1.6 trillion over ten years. >> twice where we were with boehner. but might be the beginning of bargain point. but you get 820 billion. so there's another 800 billion. at this point, the others are saying no cuts to medicare, social security, or anything else. and they have to find another 800 billion. >> the president did not say -- >> we know he has to cut some of those. >> my guess is the gop is saying they're looking at a trillion dollars as the number. >> and you saw what paul ryan said. the house was re-elected. so people re-elected those people in the house for a reason. it's a nonstarter. it's not going to happen. it's not going to be 1.6 billion. 1.6 trillion. to get to four trillion, that would be 2.4. so we said that. he'll go not 3-1 like simpson bowles. he's go one and a half to one. >> that's not going to happen either. >> but what bothers me -- >> the problem is nothing is going to happen. >> what bothers me is i do think you
that president obama was able to capitalize with women, was able to capitalize with hispanics, with other people who may have felt alien meanted? >> you define yourself. ronald reagan ran as a pro-life candidate. but, again, he defined a certain agenda. he set what is positive things on out there. if you don't, the other side will do it for you. so they got away with war on women and the idea that gm was a choice between liquidation and reorganization xhrks is wasn reorganization, which is wasn't. romney had a good plan that would have saved tax players $30 billion. >> so you don't think the platform of the party will be fundamentally a different platform? >> you don't have to change the fundamentals of your principle. of you have to learn to get the message out there. for example, when romney announced paul ryan, you notice the background, all white. why? that's just stupid if you're trying to reach out to voters. same thing at the convention -- >> you blame it solely on on the candidate himself not -- >> and the party. the candidate and the campaign and some of our senatorial candidates got it
are meeting again. in a sign of the slow pace, senior administration official said president obama and congressional leaders are not expected to reconvene this week. this is so the staff of both sides can continue to organize and work through the differences. and what is not a surprise at all, mr. obama instead will probably hit the road this week to give speeches. >> xwitner is supposed to be coming up with the details. >> aides said mr. obama will hit the road to mobilize public support. just like the last, same speeches over and over. >> you saw warren buffett this morning. >> some interesting points. he had an alternative minimum tax he had been talking about for the really wealthy. >> 30% or something. >> anybody from 1 to $10 million. also talked a little bit about raising the -- >> same thing he's been saying all along. >> he added that when it comes to who should be paying the higher taxes, he wants the threshold to be $500,000. >> and you see steven rattner on on talking about capital gains, deductions and things you've talked about a lot. >> time for the global markets re
. >> but we often talk about it as if it's sort of like a monolithic -- >> but when obama says, hey, you still get that tax cut on under 250, if you make $2 million and you keep the tax cut under 250, it's ludicrous to talk about that. >> but the effective rates versus the marginal rates is very interesting. >> effective rates are because of all the deductions and everything. but i'm at this point, i do a radio interview -- if you do do something with the mortgage interest, that has a lot of people worried about the housing industry. then if you do something with charitable deductions, that has people really worried about the charitable world. his contention was, listen, about it worked so well, go back to the clinton tax rates. not just on 250, but let them all go back. that goes instead of 80 billion a year, it's like 800 billion out of the trillion dollar deficit that we're running. so if you're worried about the sequester, do something with the sequester, figure out a way that you don't cut spending as much, let all of them expire. and then -- sgllt president made the argument that you don
. yesterday business leaders urged president obama and lawmakers to prevent a year end across board tax rise that will go into act unless congress acts. >> he understands it requires a combination of tax increases and title refor and discretionary spending cuts that dnl democrats and republicans have to work together. i'm is sure there will be a lot of forth and back between republicans and democrats, the congress and the president as they start to work their way to a deal. but i'd say there's strong recognition of the significant of getting a deal for the ben fft t benefit of the american public. >> this is all about trying to make american business more competitive, trying to have a fair balanced approach to tax refo reform. the president was clear he wants a balanced approach and we were clear we are behind him. >> top the president and top member of congress will be meeting. cnbc is urging leaders to rise above partisan rhetoric to try to find a solution and in that spirit, we have two guest hosts. first of all, george p. bush, and jared bernstein, both joining us to talk about politics
daily, the looming fiscal cliff is a big piece of the market story. today barack obama is officially kicking off budget negotiations. at issue is a one-two punch. we have expiring bush era tax cuts and across the board spending cuts both set to hit in january. simpson and bowles with a warning to washington about what's at stake. >> if we get over on the cliff, we don't have a deal, and the market doesn't anticipate that we're actually going to be so stupid as to go over the cliff, then i think you'll see the market really crash and i think you'll see the rating agencies downgrade our credit again, you'll see fitch and moody's join s&p. i think you'll see corporations lose confidence. you'll see them slow down hiring, stop capital xebd churs, capital will go on on strike, it will be a hell of a mess. >> leaders of both parties think it would be to their advantage to go off the fiscal cliff. what a 12 straight that is, that we could win more as democrats if we let it go or we can win more as republicans. this whole game isn't about america, it's about you who do we make the demss lose
obama on this topic tomorrow and was recently elected to exxon's board. she'll be joining you live at 7:00 eastern. joe, i believe you have breaking earnings numbers. >> home depot 63 cents, a nonrecurring item in there of 11 cents a share. due to the previously announced closing of seven stores in china. on an adjusted basis, the company reported earnings of $1.1 billion or 74 crepts a share, 23% above the same period last year and 4 cents above expectations of 70 cents. third quarter results were better than we expected and reflected in part what we believe is the start of a path towards the healing of the housing market according to frank bica who we hopefully have a picture of in his full regale i can't, full orange home depot apron. because he's an endearing looking guy who you would trust him at your house. there he is. i love him. >> he does have his apron on. >> and i want to thank all of our associates, and there is also as i go through the press release here, based on the third quarter, we're updating our fiscal 2012 guidance and raising our sales growth guidance. be up approx
. and they are supposed to be a sosh a absorb and master that technology and compete overseas. >> do you think the obama administration will be emboldened to actually do something on the trade front only because they haven't -- during the election, that was not part of their argument, whereas becky was saying, romney was pushing the china issue on other things, as well. >> romney had harder rhetoric, but obama shifted in the middle of his term. he started out very soft on china, trying to be friendly, and china gave him nothing. so about halfway through his term, they started doing a lot stronger trade actions, filing some wto cases. and i think you'll see more and more of that. the u.s. chamber, everybody in washington is kind of geared up. >> what about all the corruption reports in china. >> it's very serious. because it used to be don't ask don't tell, you can gather assets, but don't be it too public about it. >> will it have an impact on the leadership today? >> yes. these guys are under a rock right now. this information is getting out. the party has to regain credibility with the people right no
its thanksgiving break today. the senate was back yesterday. meantime today president obama will be meeting with small business leaders. at issue of course is the series of tax increases and spending cuts that kick in at the end of the year if congress doesn't act. >> there will come a point in time where we can't borrow anymore money and interest rates will sky rocket. >> cnbc's raise above campaign continues. we're asking who has the courage to rise above partisan politics and find a solution. among our guests, three men who understand washington, wall street and corporate america very well. we have the chairman of president george w. bush's council of economic adviser, ed lazear, roger altman, and real estate tycoon don peebles. but let's cover this morning's top headlines. >>> we do have a lot in the corporate headlines this morning including equity residential and avalon bay communities agreeing to buy archstone from lehman brothers holdings. the price tag, about $6.5 billion in cash and stock. the deal gives lehman cash to help pay its creditors as it liquidates. but i
. the obama administration saying that china's currency remains significantly undervalued, but the u.s. treasury department is now stopping short of labeling the world's second biggest economy a currency manipulator. the white house is expected now to send the congress a multi-billion-dollar request on the recovery from superstorm sandy. the storm caused an estimated $71 billion in damages in new york and new jersey, and some congressional aides saying the request for funding would likely be at least $11 billion. the move comes as canada gets close to its decision on whether to approve the transaction. the energy companies say discussions with the committee are still in progress, and of course they had to file approval because they have extensive operations in the u.s. gulf of mexico. >>> "the wall street journal" reporting that virtue is emerging as the frontrunner to buy knight capital. they would possibly sell off parts of that business. finally, we can't get away from the story of twinkies. the bakers union of hostess brands wants a bankruptcy judge to appoint a chapter 11 truste
probably tripled what we had ten years ago. >> right. and previous obama -- the republicans lost their fiscal prudent way. that was part of the problem. but expenses are going to get cut. it's going to be from both sides. no matter what we do, unless we kick the can for six months, it's going to lead to a mild recession. i don't care how you slice it. raising taxes and cutting spending, austerity or revenue increases is not good for the economy in the short term. >> in the long term, that's what we're banking on, that growth someday gets back to 3% or 4%. >> joe, you gave me a great segue here. i'm holding up the speech. it's the ten-year anniversary of the so called bernanke helicopter speech to the day, november 21st, 2002. here it is. and he talks about the fiscal policy -- because i was reading it last night, just to go back. it's amazing what it says in there. really referring to friedman's helicopter drop. but he'll be there. and he told them yesterday, we're not the only game in town now. it's time for the congress to step up. >> speaking of a man who knows another thing o
Search Results 0 to 19 of about 20

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